FX.co ★ U.S. Existing Home Sales Unexpectedly Spike 9.5% In February

On Thursday, the National Association of Realtors announced a significant increase in U.S. existing home sales for February, continuing the upward trend observed in the previous month. In February, the index of existing home sales experienced a 9.5 percent spike, reaching an annual rate of 4.38 million. This followed a jump of 3.1 percent in January, where the rate was 4.00 million.

Contrary to expectations, economists had predicted a 1.5 percent decrease in existing home sales, reducing the rate to 3.94 million. The sustained increase thus came as an unforeseen development.